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US Treasury Secretary Predicts Strait of Hormuz's Decline
Treasury Secretary Scott Bessent stated that the Strait of Hormuz will be worthless to the oil industry in two years, citing it as not a choke point. This prediction comes during the Group of 20 finance ministers' summit.
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The Hill
Treasury Secretary Scott Bessent said Tuesday that the Strait of Hormuz will be “worthless” to the oil industry in two years. Speaking to Fox Business’s Larry Kudlow on the sidelines of the Group of 20 finance ministers' summit in North Carolina, Bessent argued the key waterway is “not a choke point
2026-09-01 20:16 UTC